Hello my beauties, In my previous analysis I said I expected a move to the downside in the area in red (link below this text, check it out). The price of oil is now completing a bearish megaphone (ascending broadening wedge) pattern. Check out my analysis for more trading ideas! If you find this idea to be helpful like, follow, and drop a comment below if...
Oil has breached a 13 years long falling wedge. I will be shorting until the 55/57 area, then switching to a long term buy that, in my opinion, could lead priced up to the 130 area. This would allow the big petroleum companies to sell their oil stocks at higher prices as they decrease production to switch to environmental friendly vehicles. You can see that the...
Coming drop as shown in the drawing Reflective candle on a daily frame near a downtrend And a retest of the previous uptrend Down time also If the uptrends break out, the scenario fails, but now good selling areas
Look at price reactions to the RSI level 70,. in the 4-hour time frame. If we do not consider Price and fundamental reasons, such as coronavirus news, And only consider the price reaction to RSI 70, Again, the amount of correction, as in previous times, is so considerable that it cannot be ignored
After a correction push it now resting at 67-66 zone Upside breakout of that white zone could be choppy Down side breakdown could be smooth Just about the probability for more chances of easy flow (is downward) Analysed based on technical charts (considering) daily, 4h, 1h time frame
Hello Dear Traders, You find below my analysis for OIL which is near in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame OIL will fall to 66.8 as I am showing in my chart. Our Daily Goal is 66.5. Currently, OIL is moving towards the resistance level of 68 ,where there is some liquidity from this value we are looking for...
My short answer is no. Oil hasn't peaked yet in my opinion, although in the short term it might chop between 63-77$ before a big breakout. As OPEC+ has decided to increase production, we might slowly see the effects of that + there are some general deflationary pressures like new Covid strains and endless lockdowns that might push oil lower in the short...
This one looks like it is coming at us.., it's good to be anticipative in these things. If it works out, you not only win some but also boost your ego.
lets have a look at how oil goes, so im gonna go ahead with 2 positions, one in EURCAD and one in USDCAD no super confident on EURCAD, as EUR has been also weak, but analysis tells that this can see another push up.
- if you follow this setup, do not overleverage - do not use more than 1% of your balance simple and effective: -speculative setup -short at point B between R1-M Pivot and 88.2 fibonacci -target between S2-M Pivot, 1.809 and 2 trend based fib -TP +15% gains -RR 8.58 -updates will follow -like so you don't miss anything -follow me for more good luck...
IRAQ IS SEEKING HIGHER OPEC+ PRODUCTION BASELINE: DELEGATE UAE ENERGY MINISTRY SAYS NO AGREEMENT HAS BEEN REACHED YET WITH OPEC+ ON SUPPLY DEAL, DELIBERATIONS CONTINUE With the OPEC agreement in a state of deliberation, and compliance a real question, the market is needing to price in some bearish risk potential. Especially given the recent extension that we've...
Again, Cheer up people what goes up goes down and then goes up higher. One Love, the FXPROFESSOR
Do you guys like Old School Charts? I though it would be fun to draw something so simple. yet it's still ok! One Love, the FXPROFESSOR
The discussions at the tables at the OPEC+ conference do not end, and it shows. We expect the course to drop for quite a bit now. In total, the correction should end somewhere between $41.29 and $39.27, before new bullish runs set in. Once that happens, prices above $59.35 will be targeted. Let’s go Bears!
Just an idea for possible long positions on AMEX:DRIP for a long-term swing. There's room for more downside, possibly to the next leg of support, as I've added by the pitchfork trendline entries. As we've not seen an actual bottom yet, it's all speculation at this point, but oil (for vehicles and shipping) is slowly being pushed to the margins; and with an...
HELLO TRADERS, THANK YOU FOR FOLLOWING US. WITH USOIL AT 2018 MONTHLY HIGHS POTENTIAL FOR SOME DOWNSIDE CORRECTION POSSIBLY INTO JULY AS ALWAYS, ONLY RISK WHAT YOU'RE WILLING TO LOSE. THE TRADING REGIME FX:USOILSPOT
CRUDE OIL POSSIBLY CREATING DOUBLE TOP PATTERN OR TRIPPLE TOP PATTERN ( NEED NECKLINE CONFIRMATION ). Crude oil suffers first weekly loss in May on Iran nuclear deal, weak demand; experts see sideways momentum Prices could witness some additional correction next week on demand outlook in Asia and a possible increase in output from Iran.